Independent corporate advisory, Acuity Advisors, has acted as exclusive corporate finance advisor to YourWealth.co.uk.
Acuity secured the sale of YourWealth.co.uk and its Money Hub app technology to Momentum UK (consisting of Momentum Global Investment Management and MMI Holdings UK) which forms part of MMI Holdings Ltd (MMI), one of the largest financial services groups in South Africa.
Aimed at people with anything from £5 to £50 million, YourWealth.co.uk and its Money Hub app offer access to information, products and financial advice. Most importantly, users are able to see their complete financial universe from liabilities to savings, investments to future plans. The technology synchronises across phones, tablets or desktop computers and is currently tracking over £1.74bn of consumer assets for its registered users. YourWealth.co.uk was highlighted in the 2014 FinTech 50 as one of the most innovative and disruptive brands in European financial technology.
The transaction will enable YourWealth.co.uk to achieve its vision of empowering people to make better choices over their financial futures by using the technology.
Toby Hughes, founder and CEO of Yourwealth.co.uk commented, “Acuity played an instrumental role in helping us secure this acquisition. The pragmatism and relentless focus of their team was pivotal to us achieving a fantastic outcome.”
Richard Baker, partner at Acuity Advisors, who worked closely with the YourWealth.co.uk team and led the process, added: “There is much excitement in FinTech right now and there are many strategic options open to businesses like YourWealth.co.uk. We are delighted to have helped Toby and his team access their strategic options and secure a deal with MMI which will enable them to build one of the world’s most powerful financial technology solutions, benefitting both consumers and their advisers.”
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